International Smart Sourcing, Inc. has entered into a non-binding letter of intent to acquire Charter Fabrics, Inc., a privately held textile and cosmetic sourcing company located in New York, USA.

The letter of intent states that the company will exchange 11,000,000 shares of restricted unregistered common stock of the company for all of the shares of common stock of Charter Fabrics. Charter Fabric's current annual revenue totals in excess of $13 million.

Charter Fabrics sources both textiles and cosmetics, with a specialty in Asia. The Charter Fashion division of Charter Fabrics provides fabric and complete women's garment packages to major US manufacturers.

International Smart Sourcing specialises in assisting companies in reducing manufacturing costs by outsourcing all or part of their manufacturing to China.